Toronto Postal Codes With the Least and Most Expensive Auto Insurance Rates

The city of Toronto has one of the most expensive car insurance rates in Ontario according to RATESDOTCA.

Though the average insurance rates are below the insurance rates in Brampton, Mississauga, Vaughan, Richmond Hill or Markham, many Torontonians pay more than the provincial average rate of $1,616.

RATESDOTCA says the cheapest rates in Toronto are estimated to be $1,695 and that the insurance rates in the city’s core and midtown are cheaper than those found on the north end of the city. The company attributes the reason for this to the fact that the residents who live downtown rely on their vehicles less than those living in Etobicoke, York, North York or Scarborough.

According to the city of Toronto’s Vision Zero Road Safety Plan 2017-2021, only 32% of residents who live in the city’s core or East York drive while 70% of residents in Etobicoke and York, 65% of residents in North York and 65% of residents in Scarborough drive. The difference between the highest and lowest rates in Toronto was $1,305.

 

TORONTO POSTAL CODES WITH THE MOST EXPENSIVE AUTO INSURANCE RATES

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Most expensive wards for car insurance in Toronto (CNW Group/RATESDOTCA)

Ward Postal Code Starting With Borough Estimated Premium
Scarborough-Rouge Park, Scarborough-Guildwood, Scarborough Centre, Scarborough North M1B, M1J, M1X Scarborough $3,000
Humber River-Black Creek M3J, M3N, M9L, M9M North York $2,864
Etobicoke North M9V Etobicoke $2,864
York Centre M3H North York $2,593
Scarborough Southwest, Scarborough Centre, Scarborough-Agincourt, Scarborough North M1K, M1S, M1T, M1V Scarborough $2,529
Scarborough-Guildwood, Scarborough-Centre M1G, M1H, M1P Scarborough $2,491
Humber River-Black Creek, York Centre, York-South Weston M3L, M3M, M6M North York $2,463
York-South Weston, Davenport M6N Toronto $2,463
York-South Weston M9N North York $2,463
Etobicoke North M9W Etobicoke $2,463

TORONTO POSTAL CODES WITH THE CHEAPEST AUTO INSURANCE RATES

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Least expensive wards for car insurance in Toronto (CNW Group/RATESDOTCA)

The cheapest rates in Toronto in 2020 are estimated to be $1,695 in the North York ward of Don Valley West, this is up from $1,533 in 2018.

Ward Postal Code Starting With Borough Estimated Premium
Toronto-St. Paul’s/Don Valley West/University-Rosedale M5P, M4W, M4V, M4T, M4S Toronto $1,695
Don Valley West/Eglinton-Lawrence M4N, M5M, M4R, M4P North York $1,695
Don Valley West/Eglinton-Lawrence M4G East York $1,695
 

The average Toronto auto insurance premium was $2,201 in December 2020.

RATESDOTCA says the rate estimates are based on a 35-year-old driver of a 2017 Honda Civic with a clean driving record.

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